India Economic Policy
India Economic Policy determines the various initiatives that has been taken by the government, since liberalization in 1991, for the benefit of different sectors of the Indian economy.

India Economic Policy was influenced by a Fabian-socialistic approach with emphasis on protectionism, import substitution, industrialization, state intervention in labor and financial markets, and central planning. The government had strict restrictive economic policies over the private sector participation, foreign trade and foreign direct investment. The first breakthrough came with Jawaharlal Nehru and statistician Prasanta Chandra Mahalanobis, who emphasized on more flexible economic policies involving both public and private sectors based on direct and indirect state intervention. However, India Economic Policy changed after 1980 with the removal of restrictions on capacity expansion for incumbents, price controls and reduction in corporate taxes. The revolutionary change came with the economic liberalization of 1991, undertaken by the then prime minister of India, P. V. Narasimha Rao and the finance minister Manmohan Singh. Considering the balance-of-payments crisis, they formulated a new set of economic policy in India, ending many public monopolies and allowing automatic approval of foreign direct investment in many sectors of the Indian economy.

The India Economic Policy at present comprise of:

Civil Aviation Policy

Foreign Direct Investment Policy

Drug Policy

Industrial Policy

Broad Band Policy 2004

National Electricity Policy

New Telecom Policy 1999

Foreign Trade Policy

Exim Policy

National Mineral policy

Monetary and Credit Policy

Non-Resident Indians(NRIS) Policy

Current Export-Import Policy

Current Monetary And Credit Policy

Indian Direct Investment In Joint Ventures And Wholly Owned Subsidiaries Abroad

Policies And Procedures For External Commercial Borrowings

Overseas Venture Capital Investment In India

Baggage Rules for Indian residents or foreigners residing in India.

At present, the India Economic Policy have made India as one of the most prosperous economy of the developing world. Indian economy is one of the most preferred destination for the foreign direct investments specially in the real-estate sector, in which from March 2005 onwards, FDI is allowed 100 per cent, as per the India Economic Policy.

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